Why MercadoLibre Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Friday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
MercadoLibre, Inc. (MELI) shares fell by 9.6% after reporting Q4 financial results with earnings per share of $3.25, unchanged from last year, but beating sales estimates. Other stocks showed significant movement, with AXT, Inc. (AXTI) and Maravai LifeSciences Holdings, Inc. (MRVI) among the top gainers, while Sequans Communications S.A. (SQNS) and Smith Micro Software, Inc. (SMSI) led the losers.
February 23, 2024 | 7:07 pm
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NEGATIVE IMPACT
MercadoLibre shares fell by 9.6% after reporting unchanged earnings per share from last year but beating sales estimates.
Despite beating sales estimates, the unchanged earnings per share likely disappointed investors, leading to a drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Sequans Communications shares fell 65% after Renesas terminated the MOU for a proposed acquisition.
The termination of the acquisition MOU by Renesas led to a significant drop in Sequans Communications' stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 95
POSITIVE IMPACT
AXT, Inc. shares surged 74.4% after reporting better-than-expected Q4 financial results.
The significant surge in AXTI's stock price is attributed to its better-than-expected Q4 financial performance.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90